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"While the research involved in this process can be time-consuming," she said, "it is Wells Fargo's goal to complete repurchase requests as quickly as possible, and we have adjusted staffing levels appropriately to respond to current volumes".
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Freddie, in its quarterly report filed this month, said it was now requiring banks "to commit to plans for completing repurchases, with financial consequences or with stated remedies for noncompliance, as part of the annual renewals of our contracts with them".
The company, which has operations in 16 countries, expects to complete the repurchase by mid-August.
It expects to complete the repurchase of $2.5 billion to $3 billion in stock by July 2012.
Alibaba is expected to complete the repurchase of the 20 percent stake in the beginning of the fourth quarter.
Even if Wal-Mart shares burst from their trading range of weeks and soar 50 percent, completing the repurchase would still tip majority control into the family's hands.
A.I.G. also said it had substantially completed the repurchase of $5 billion in stock from $8 billion authorized earlier in the year and planned to accelerate the repurchase of the remaining $3 billion.
WEYERHAEUSER CO., Federal Way, Wash., a maker of pulp used to make paper, said it would buy back up to 10 million more common shares, or about 4.3percentt of its stock outstanding, over the next year after just completing a stock repurchase program of 12 million shares.
Sears has nearly completed a $1.5 billion repurchase authorized in March 1999.
The Sara Lee Corporation said yesterday that it had completed a $3 billion repurchase of about 114 million shares five months ahead of the company's target of June 30.
Carter Hawley then completed a share repurchase program, which raised the employee stock ownership plan to 23 percent of the voting interests in the company, from 18 percent.
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